HomeMy WebLinkAboutCity Council Resolution 2016-339
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-339
R ESOLUTION A CCEPTING S TREETS FOR C ONTINUAL M AINTENANCE
FOR P ROVIDENCE P OINT (2013115)
WHEREAS, in accordance with the development contract dated January 28, 2014, Providence 55,
LLC, developer of Providence Point Addition (2013115), has agreed to install certain improvements for
said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted
below; and
WHEREAS, the developer has requested a reduction of the required financial guarantee to
reflect the completed work.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the financial guarantee requirements are reduced as follows and that the required
financial guarantee and Letter of Credit No. 1051 for the items be reduced from $183,710 to $101,574:
Original Current New
Item Amount Amount Amount
Street Construction $282,447 $113,000 70,600
11,636 0
Sanitary Sewer System 46,544
Watermain System 62,580 15,648 0
Storm Sewer System 39,700 9,925 9,925
Boulevard and Drainage Swale Sod 4,910 4,910 1,225
Retaining walls 3,000 0 0
Rain Garden/Filtration Areas 1, 2 and 3 18,000 4,500 4,500
Street and traffic control signs 1,140 0 0
Sidewalk Improvements 9,750 3,900 2,400
Trail Improvements 17,640 7,000 4,400
Landscaping 13,850 3,000 1,000
Street Lighting 56,625 0 0
Setting Iron Monuments 4,500 0 0
Design, Admin., Insp., As-Builts (8%) 40,775 10,194 7,524
TOTAL $ 550,461 $183,710 $101,574
BE IT FURTHER RESOLVED that the streets are accepted for continuous maintenance as of
November 16, 2016, subject to the one-year guarantee by the Developer per Letter of Credit No. 1051.
APPROVED by the City Council on this 16th day of November, 2016.